Exhibit 99.3
| | |
| | Investor Fact Sheet June 2013 Rate Filings: NVE-North |
Milestones
| • | | Filing date: June 3, 2013 |
| • | | Expected Commission decision: within 210 days |
| • | | Each of the company’s two electric utilities is required to file a general rate case (GRC) every three years. There are no time requirements for the gas division. |
Test Year
| • | | Calendar 2012 with known and measurable adjustments through May 31, 2013. |
Revenue (Decrease) Increase Requested
($ millions)
Effective January 1, 2014:
| | |
• Electric | | ($9.4) or (1.4%) |
| |
• Gas | | $10.2 or 11.4% |
Impact on Customer Bills
| • | | Electric – commercial: average decrease of 2.81%. |
| • | | Electric – residential: because of shifts in cost of service, typical single family customer would experience an increase of 1.77%: |
| | |
Current typical bill = | | $83.58 (746 kWh) |
| |
Proposed typical bill = | | $85.06 (746 kWh) |
| • | | Gas: typical single family residential customer would experience an increase of 11.04%: |
| | |
Current typical bill = | | $35.87 (56 therms) |
| |
Proposed typical bill = | | $39.83 (56 therms) |
For more information, contact Investor Relations:
Max Kuniansky: 702.402.5627 ormkuniansky@nvenegy.com
Jessica Lucero: 702.402.5612 orjlucero@nvenergy.com
Key Drivers of Revenue (Decrease) Increase
($ millions)
Electric:
| | | | |
• O&M reductions | | $ | (19.9 | ) |
• Reallocation of debt between electric and gas | | | (4.5 | ) |
• Depreciation and amortization | | | 8.3 | |
• Return | | | 6.0 | |
• Other | | | 0.7 | |
Gas:
| | | | |
• O&M reductions | | $ | (1.6 | ) |
• Return and under-earnings | | | 8.0 | |
• Reallocation of debt between electric and gas | | | 4.8 | |
• Depreciation and amortization | | | 0.8 | |
• Other | | | (1.8 | ) |
Proposed Rate Base($ millions)
| | | | |
• Electric | | $ | 1,552.3 | |
• Gas | | $ | 204.2 | |
Capital Structure and Rate of Return
| • | | Requested in this filing: |
| | |
Electric | | |
• Debt/equity | | 53%/47% |
• Return on equity | | 10.4% |
• Overall return | | 7.74% |
| |
Gas | | |
• Debt/equity | | 53%/47% |
• Return on equity | | 10.35% |
• Overall return | | 7.72% |
| • | | Approved in last NVE-North rate case (2010): |
| | | | |
Electric | | | | |
• Return on equity | | | 10.1 | % |
• Overall return | | | 7.86 | % |
| |
Gas | | | | |
• Return on equity | | | 10.0 | % |
• Overall return | | | 5.15 | % |
